Mike Norman Economics

 Haven't things changed? My mum was about 21 years old back then, my dad was 26, and I was a baby?Anyway, some of the women didn't trust the "new fangled" modern washing machines and so stuck the old traditional methods, even if they were backbreaking. Admire the industriousness of the Liverpool women who transport huge bundles of laundry to and from the local wash-house every week, crammed into old prams or balanced skilfully on their heads. The wash-house doubles as a social hub for the...

So Britain finally became free – sort of – from the European Union last week. I haven’t fully read the terms of the departure but the progress I have made so far in the text (several hundred pages) leads me to conclude that Britain has not gone completely free from the corporatist cabal that is the European Union. The agreement will see a Partnership Council established which locks Britain in to an on-going bureaucratic process dominated by technocrats – the sort of things the EU revels in...

If this report is any indication, recovery may be slow globally even after the virus dies down. A "V" shaped recovery is looking Sixth ToneIn Virus-Free Wuhan, Businesses Are Still Recovering Zhang Zizhu

On the other side of the ledger we’ll be starved of interest income to the same degree... ie lowest in 50 years...Net interest costs on deficit are expected to reach as low as 1.14% of GDP in 2024, which would be lowest in 50 years @biancoresearch @USCBO pic.twitter.com/Z8etMyzPgZ— Liz Ann Sonders (@LizAnnSonders) January 7, 2021

 Nikita Khrushchev's granddaughter puts it in historical perspective. She is a regular contributor to Project Syndicate. I don't usually agree with her analysis, but this is worth reading for an international perspective.The storming of the US Capitol by Donald Trump's supporters in a last-ditch effort to overturn the result of the 2020 election was as predictable as it was shocking. Four years of Republican complicity in the face of Trump's erosion of US democracy have brought the country...

I don’t say this lightly, and I don’t say it WILL happen. I don’t know if it will. But the conditions for it are there....Ian WelshTrump Has Proven The US Is Ripe For A Right Wing Coup

Even by the standards of the past four years, the dismay among U.S. allies came strong and fast on Wednesday, as the chaotic—even terrifying—footage of Trump supporters breaching the Capitol building in Washington, D.C., blew apart regular programming around the world, and millions sat glued to their televisions for hours, aghast as the events unfolded.Leaders across Europe took to Twitter to express their outrage at what they were seeing....Gérard Araud, former French ambassador to...

OK, I couldn't resist the headline.PoliticoTrump’s America Becomes One of Those ‘Shithole Countries’John F. Harris

We gotta heal as a nation. Trump is too divisive. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman

Exchange Stabilization Fund $40b clawback yesterday.... negative withdrawal from TGA....  TGA still being held above $1.6T ...